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Sheffield Company recorded the following operating data: Sales $1240000 Contribution margin 490000 Total direct fixed costs 398000 Total operating assets Jan. 1, 2020 753000 Total

Sheffield Company recorded the following operating data: Sales $1240000 Contribution margin 490000 Total direct fixed costs 398000 Total operating assets Jan. 1, 2020 753000 Total operating assets Dec. 31, 2020 788000 Sheffield Companys desired return 14% What is Sheffield Companys residual income? $13420 ($13420) ($15870) ($18320)

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